MottoFX (mottofx.com) has been flagged by ASIC (Australia) for "Unlicensed". Search IC001 for other entities related to this alert. Link to warnings from overseas regulators: FCA https://www.fca.org.uk/news/warnings/mottofx, CNMV https://www.cnmv.es/webservices/verdocumento/ver?e=cWWIb0Jhue2YT9LsGyYon5qsmhmHlGKVzGKYDPXP7jQPj57IXgF7VdIcuAns0KKL, FSMA https://www.fsma.be/en... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: mottofx.com.
The platform at MottoFX (mottofx.com) is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since early this year of dealing with this, I have had enough.
Pros: Smooth onboarding|Educational resources
Cons: Account statements could be more detailed|Charting tools need more indicators
The platform itself is okay, but the customer service at MottoFX (mottofx.com) is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Good analytical tools|Two-factor authentication
Cons: None so far
The onboarding at MottoFX (mottofx.com) was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Fast deposits|No hidden fees
Cons: No dark mode on mobile|Minor UI glitches occasionally
MottoFX (mottofx.com) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Responsive team|Demo account available
Cons: Limited ETF selection|Research section could be deeper
I have been trying to close my account with MottoFX (mottofx.com) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: No hidden fees|Low minimum deposit
Cons: Limited ETF selection|Could offer more webinars
The spread at MottoFX (mottofx.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them while looking for alternatives to my previous provider and initially thought the platform was good - until I started trading seriously.
Pros: Customizable dashboard|Personal attention
Cons: Limited social trading features|Email notifications too frequent
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. MottoFX (mottofx.com) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Dividend tracking|Smooth onboarding|API access|Risk management tools
Cons: Live chat only during business hours
Where do I even begin with MottoFX (mottofx.com)? for a couple of months now of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Reliable uptime|Stable platform|Economic calendar|Smooth onboarding
Cons: Would like more payment methods
I had a dispute with MottoFX (mottofx.com) and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Excellent charting|Intuitive for beginners|Regular platform improvements
Cons: No live chat on mobile
The reporting at MottoFX (mottofx.com) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Intuitive for beginners|Fast execution
Cons: Website design could be more modern|Mobile app could be improved